mr. sherman. mr.durbin, i felt myself mostly in agreement with your opening statement, and i think to be intellectually honest you are right. the goal is to lessen reliance on foreign oil and especially from areas in the world that are problematic for lots of different reasons, frankly everything has to be on the table. to be honest everything has to be examined forthrightly on its merits, and so i applaud you for that principle i've got to guide what we do and with respect to the keystone pipeline it's not and is the logical issue but in the spirit of being intellectually honest, a couple of points. does trans canada have a determinant in vancouver? is there not a line that ends in vancouver? i don't know whether transcanada has aligned. >> if that ran to the port of vancouver. i don't know. >> i have a map that says there is a pipeline that runs to the canadian west coast from the alberta oil sands i believe it is about 300 barrels a day. >> brenau california gets some capacity. >> there are proposa

mr. sherman. mr. sherman -- the speaker pro tempore: the gentleman from california is recognized for four minutes. mr. sherman: i thank the gentleman for his generous grant of time, especially because he will probably disagree with almost everything i have to say. i'd like to thank chairman ileana ros-lehtinen for bringing together the best ideas of so many members and of course of her own to move toward another important step toward dissuading iran from developing nuclear weapons. and for her ability to build a coalition that has over 300 members co-sponsoring this bill. we have to create circumstances with a -- where the regime in tehran has to choose between its nuclear weapons program and regime survival. we have a -- we owe a special debt of mullahs running iran because it is their incompetence and corruption that creates a risk to regime survival even at a time of very high oil prices. we owe a debt of deprattude to the iranian people who rose up gep the reyeem in the summer of 2009 and whose des

mr. sherman now. >> mr.peline if american law prohibited the export of the petroleum that was brought to us through that pipeline? >> mr. sherman i obviously cannot speak for transcanada. i know they testify to some of this last week as well. they only move the product. >> would the american petroleum institute supported statute that provided the pipeline could be built, perhaps with additional environmental safeguards, but prohibited the export of the oil carried by that pipeline? >> no sir, don't think api with support that. >> okay so basically you are not here to try to give us energy security. you are here to try to let some oil companies makes a money by building a pipeline. >> no sir, don't think that's right. >> you don't create energy security by having canadian oil to europe as opposed to exported to japan. >> i disagree with you. >> through the united states. well, the fact is, if the proponents of the pipeline and the industry itself insists on the right to export, if the plan is to build a pipel

mrs. sherman, we have to do that. we apologize.ould you please lower your pants, weld like to see this. >> the tsa shows a preliminary review shows officers followed the procedures. >>> in california, the so-called geeser bandit may have slipped up by leaving a clue after his latest heist. he has hit more than a dozen banks. reporter allison reader has the latest. >> reporter: it's a clue that could help detectives crack the case. they found a day planner in the bank of america parking lot. they think it belongs to the geezer bandit and he dropped it while making his getaway. >> this is the most evidence that has ever been left behind at a scene. >> the bank robber was caught in action on friday evening. investigators say he gave the teller a note with his demands, pointed a gun her way and threatened to shoot if she didn't cooperate. the teller placed the cash in the bag along with a dye pack. the geeser placed it in the in his bag with his day planner and took off. >> i think the shock of the dye pack actually exploding in the ba

mr. sherman if he didn't with the balance of my time. >> thank you, mr. duncan.nd i think this is not from the beginning we are exporting products now. so certainly this is the addition of canadian crude into our market and refining simply is providing more supply diversity, going to allow us to produce the fuel that we need here and when it makes sense we are certainly going to be able to export products as well. we import and export but more importantly, the canadian crude coming into the gulf coast refineries is replacing crude-oil that we had been bringing in from venezuela and mexico. venezuela is sending more product elsewhere and mexico's production is on the decline and we need to replace that. it's only replacing it but it will be even more. and that does and whomever overall energy and national security. >> as we adjourn, let me just close with the comment again of the prime minister of canada. this was several days after the obama administration announced the keystone deily and prime minister steven harper had had a face-to-face meeting with the leader

mr. sherman from california. >> thank you. i want to emphasize your last comment. i know you gave a similar response. this increase is not put to the fha fund at greater risk. if anything, as i understand your data, it should help the fha and absorb some of the risk it absorbs on loans of less than 300,000. one concern people have is, are the reserves adequate? we would prefer they be higher. it is my understanding they would not be exhausted if we ended up with a 5.6% decline in national home prices and a 4% decline next year. is this right? do you predict a decline in the home prices next year? >> i will tell you what our independent and data used for the actuarial predicted. a 5.6%, it appears we got data yesterday -- it appears that the decline will be smaller than 54%. it is now just under 4%. their prediction, moody's is for a 1.3% increase. that is the best case he actuarial is run off of it. >> of the predictions have been more gloomy than the actuality for the last several months and if the predictions hold the fha will not need an infusion of federal fund

mr. sherman. we're approaching a vote and also another committee coming into this, so this will be our last question. >> thank you. in reference to the gentleman from north carolina coming from a state without a high cost area in the state, and so it's very easy for him to vote against the bill that would prevent a major recession from hitting los angeles, but i assure him that if a recession starts in los angeles, it will reach to north carolina. >> would the gentleman yield? >> tent seconds. >> sure. i appreciate that. i understand your perspective on it, but when we talk about federal policy, subsidizing a half million dollar house is very different than helping somebody's who's trying to -- >> you've never seen a half million dollar house in the san fernando valley. it's small e and the people living in it are more working class than the quarter million houses of north carolina, and that is why having a law that distinguishes between your state and mine is necessary, and if you want to see eve

mrs. sherman, we have to do that. we apologize. could you please lower your pants.. >> the tsa says a preliminary review shows the tsa followed proper operating procedures. >>> a 23-year-old model and fashion blogger from texas is in stable condition this morning after a terrifying accident. she walked into a plane's propeller. this happened on saturday night. lauren scruggs had just gotten off that plane. her skull was fractured. she had to have her left hand amputated. her parents say she's making a very slow recovery. >> asked her if she can hear me to squeeze my hand and she did. >> a family folks woman says scluggs suffered head, brain and shoulder injuries. >>> an unusual scene in new mexico, palm trees and snow together in los cruces. new mexico got up to a foot of snow there, yesterday whiteout conditions. temperatures are expected to get back to normal by the >>> special operations is not what they used to be in the war on terror. the u.s. military's elite units are facing a very different type of enemy, forcing big changes in the way they operate. >> joini

mr. sherman that this emerged this measure emerged from the ways and means committee i guess it did when i asked mr. kemp questions he took exception that it came from the committee and said that he couldn't ask the question because it didn't come from his committee so i guess it emerged on mysteriously here. we have a deadline of ilya or deadline is. you are acting early in this week with the deadline i hope in the senate which as we all know is going to reject the measure acts equally not with our imperatives but aren't required. >> i want to say to you when you say something you have to know what you are really talking about and i have made statements and sure many members have that when correction is required we come back and offer those corrections. you said to me that this was the same measure that passed the house of representatives. i told you that was not. >> and you were right. >> i want to make sure that we understand the distinction and i appreciate the chair. i would like to introduce into the record the major provisions of h.r. 1938 and the distinctions offered in 3630. -- b

mrs. sherman, we have to do that. we apologize. could you please lower your pants?>> the tsa says a preliminary review shows that officers follow the proper procedures. another 80-year-old woman lenore zmt immerman says she was bruised after being examined by tsa agents. >>> walked into a plane's propeller on saturday night, lauren scruggs had just gotten off that flight to see christmas lights. her skull was fractured. she had to have her left hand amputated. her >>> special operations is not what they used to be in the war on terror. the u.s. >>> specials operations is not what it used to be. facing a very different type of enemy, facing big changes in the way they operate. >> time magazine's international editor joins us now. "special ops:the hidden world of america's toughest warriors." jim, good to see you. >> great to be here. >> fascinating, just the things we hear in the general public about these special ops soldiers. the birth of the special ops officer dates back to world war ii. what was it about then that brought about this special soldier? >> special o

mrs. sherman says the tsa screeners made her pull down her pants, showing off her colostomy bag. d her to come forward after hearing zimmerman's accusations. >>> 8:26 on this tuesday morning. she is a famous american supermodel but not so good at accounting. find out who owes the irs half a million dollars. >>> he may have ended his quest for the republican presidential nomination, but he hasn't given up on politics. the latest from herman cain when fox 5 morning news returns. 8:27 now. [ female announcer ] more people are using wireless devices... in more ways than ever. and our networks are getting crowded. but if congress frees up more wireless spectrum... we can empower more people to innovate... putting momentum behind our economy. and we can reduce the deficit... with more than thirty billion dollars paid by america's wireless companies. it's simple -- more spectrum means more freedom. for everyone. >>> 8:29 now. let's take a look at some of the stories making headlines this morning. state police in maine are on the lookout for an escaped prisoner this morning. david haasen

so the only place you can buy sherman williams-label products is a sherman williams store. president olague: mr. cornell, you can come to the microphone also. >> there will not be a sherman williams product in his store. the only sherman williams stores sell sherman williams products. president olague: it looks like the motion -- please, mr. cornell. definitely. >> i cannot think of any compromise like that. commissioner borden: i just thought i would ask. president olague: ok, we have a motion on the floor to deny the project. recall the question. >> the motion on the floor is for disapproval of the proposal that is before you. on that motion, commissioner miguel >> no. >> commissioner borden president olagu, -- the passes 4-3. thank you, commissioners. you're now on item number 13, kasich 2011.0861dd comment discretionary review request. president olague: no point taking a break, right? we should go through with the two items. >> good afternoon, planning commission couldn't i am the southwest team leader. we have a request for discretionary review of the building permit a -- proposing for a t

mr. sherman first for five minutes. >> we have a shortage of housing for the homeless. we have an incredible shortage of money here in the federal government. and we have an enormous surplus of boarded up houses, at least in some communities. is there anyway that we can use the housing stock that has already been constructed to meet these needs? knowing that some of these houses that are boarded up our two thousand to 3000 square feet, is there anyway that they can accommodate more than one for homeless family? i will ask mr. johnson. >> we do have an initiative that we have had for years and is much more active during years when we have used foreclosures like in the recent past where discounts can be made to allow these houses to be used for a variety of different reasons, including housing homeless person. >> it is one thing to find somebody who is homeless. but some have the finances to reduce mortgage payments. is that the kind of program you're talking about? or are you talking about a program where community organizations acquire use of -- use or ownership of the

mr. sherman. >> thank you for holding this important hearings. effective energy on our national security cannot be overstated. i know that most of the comments here have been about the keystone pipeline. i think these hearings are far broader than the impact is far more significant in this pipeline. to address this pipeline, i think we have to take a look at environmental concerns about how that pipeline should be built, the route it ought to take and why it is bypassing the market of the midwest to go down to texas, which is the one part of the united states saturday has more oil than it can consume. i realize that there are some in the environmental movement to believe that if this typing is built, the carbon on on the petroleum under the ground of canada will not be burned mixed with oxygen mountains and send it to atmosphere. i think the opening statements have made it clear that at some point canada will find a way to exploit this resource, whether it through the united states whether it through the port of vancouver to the world markets. ho

mr. sherman. you had talked about on page to what your testimony about helping families avoid foreclosure. can you kind of expand on what you're doing there? >> yes. since 2009 we have worked to benefit 575,000 families, and that would be all inclusive of all the various tools we use to try to help families said it would be traditional modifications, and modifications, forbearance plans, short sales, the whole range of tools we use to try to keep people in their homes. >> thank you. mr. demarco on page five you mentioned you are bringing a lawsuit against 18 institutions to recover certain losses, and you are bringing those lawsuits because you feel like that the institutions did not act fairly in the relationship, is that correct? >> it has to go with the security disclosures that these institutions have on security instruments that were approached by fannie and freddie and we believe we have evidence supporting the disclosures of what were characteristics of the loans in the securities did not m

mr. sherman first for five minutes. >> we have a shortage of housing for the homeless. we've got an incredible shortage of money here in the federal government. and we got an enormous surplus of boarded-up houses, at least in some communities. is there any way that we can use the housing stock that has already been constructed to meet these needs and knowing that some of these houses that are boarded up are 2 or 3,000 square feet, is there any way that they can accommodate more than one homeless family? i'll ask mr. johnston. >> we do have an initiative that we've had for years and it certainly is much more active during years where we have huge foreclosures like in the recent past, where discounts can be made to allow these houses to be used for a variety of different reasons including housing homeless persons. >> well, it's one thing to find somebody who's homeless, but some have the finances to make reduced mortgage payments, is that the kind of program you're talking about? or are you talking about a program by which community organizations acquire use or ownership

mr. sherman from california for five minutes. >> thank you. i do want to emphasize that last commend and gave a similar response to gary ackerman. this increase does not put the fha fund at greater risk. if anything, as i understand your data it should help the fha absorb some of the risk it absorbs on blown -- loans of less than 625,000. one concern that people is, are the fha reserves adequate? we obviously prefer that they be higher but it's my understanding that those reserves would not be exhausted if we ended up this year with a 5.6% decline in national home prices. and then there was a 4% decline next year. is this right? and do you predict a 4% or greater decline in the home prices next year? please tell me no. >> i will tell you what our independent data that was used for the acutarial predicted was that 5.6% decline, it appears we got third quarter data yesterday from fhfa and case-shiller. it appears likely the decline this year will be smaller than that 5.6%. it is now year-over-year about just under 4%. and their prediction, moody

mr. chairman. undersecretary sherman, there are concerns about oil prices with passage with this amendment. i've heard just what a today about concerns about what it might do to other countries that have banking relationships with iran that are friends of ours. are we aware of what an iranian nuclear test might do to stability or to oil prices or what an incident in the straits of hormuz might do? are we calculating that? i know the concern i have and i only really speak for myself, but i think i am speaking for the people of georgia. it seems like the sands in the hourglass are running out. we do not know when, but there's no question that ahmadinejad and the iranians, if given the material, probably would use that material in a nefarious way against israel or someone in the middle east. that is a calculation that has to be paramount in terms of how we deal with iran. that is why i think it is so important that we send a legislative message to the congress and the united states that time is running out on iran as well. i would like you to respond to that. >> senator, as you have said and o

mr. chairman. >> thank you very much, senator webb. senator isaacson. >> undersecretary sherman there have been expressions of administration about the kwpbs of oil prices with the passage of this. i have heard testimony about the concerns of what it might do to other countries that have banking relationships with iran that are friends of ours. are we measuring what the consequence of an iranian test might do to the world stability or oil prices or what a nuclear incident in the straits of hormuz might do? i know the concern that i have and i really only speak for myself but i think i'm expecting for the people of georgia. it seems like the sand in the hour glass is running out. we don't know when but there is no question thated a medicine jed and -- that ahmadinejad and the iranians would use material against israel or somebody in the middle east. th that is a calculation that must be paramount of how we deal with iran. that is why it is important we send the legislative message from the congress of the united states that the time is running out on iran as well. i would like yo

mr. speaker, good morning. thank you very much for coming. sherman told me that you will probably critique what i wear. i got a tie just for you. what do you think? >> it looks pretty good. you have the christmas spirit going. it all matches. that is really saying something for a reporter in this town. [laughter] >> this year was a turning point. this year, more than ever, people in america think the process is broken. more and more members will say publicly that washington is broken. you are the speaker. how much responsibility are you willing to take for that? >> there are really big issues that citizens are concerned about. they are concerned about the economy, jobs, the future for their kids and grandkids. as a result, this debate that happens in our country, but sooner or later it all ends up in washington d.c. a lot of these discussions are really pretty painful. we are talking about real change. >> this is not the first time in 200 years that painful issues have come to washington. >> i understand that. but when you talk about the scale of change, it is different than what i have seen in the 21